Latest Update in the SMM Pig Iron Market

According to SMM survey of 50 EF steel mills that mainly produce construction steel, their operating rates was 42.2%, down 2.08 percentage points WoW, as of March 12.

Ferrous metal prices dipped last week.

As of March 15, iron ore inventory across 35 ports tracked by SMM totaled 139.15 million mt, up 1.09 million mt WoW and 6.03 million mt YoY.

Last week, the iron ore prices dropped by 90-100 yuan/mt in Qian'an and Qianxi county in Hebei province and fell 70-80 yuan/mt in Chaoyang, Beipiao, and Jianping city in west Liaoning province; but hiked by 5-10 yuan/mt in East China.

HBIS Group Co., Ltd (HBIS Group) is one of the largest steel material manufacturing and comprehensive service providers worldwide.

DCE iron ore futures open higher and go higher, the main contract I2405 closed 781.5. an decrease of 3.46% throughout the day; some traders were negative to sell;

DCE iron ore futures market falling trends by 2.62%. the main contract I2405 closed 798. Some traders adopt separate quotations, were negative to sell;

DCE iron ore futures market falling sharply trends，the main contract closed 807.5，an decrease of 2.53% throughout the day; Traders have average enthusiasm for quoting and are willing to ship at an appropriate price;